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German State of Saxony Assigned 'AAA/A-1+' Ratings On Excellent Budgetary Performance; Outlook Stable Product Image

German State of Saxony Assigned 'AAA/A-1+' Ratings On Excellent Budgetary Performance; Outlook Stable

  • Published: May 2011
  • Standard & Poors

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Abstract
The ratings on the German State of Saxony are based on our view of the state's excellent budgetary performance, positive liquidity situation, and moderate tax-supported debt burden. We are assigning our 'AAA' long-term and 'A-1+' short-term ratings to the state. The stable outlook reflects our view that rising tax revenues following the recent economic recovery in Germany should help Saxony achieve budgetary surpluses over the next few years. FRANKFURT (Standard & Poor's) May 18, 2011--Standard & Poor's Ratings Services said today it assigned its 'AAA' long-term and 'A-1+' short-term issuer credit ratings to the German State of Saxony. The outlook is stable. The ratings reflect our view of the state's excellent budgetary performance. "Under our base-case scenario, we expect that...

Companies mentioned in this report are: Saxony (State of)
Action: New Rating

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Saxony (State of)

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